Table of Contents
What does provisions mean in government?
: a stipulation (as a clause in a statute or contract) made beforehand.
What is the legal meaning of provisions?
a clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso. the providing or supplying of something, especially of food or other necessities. arrangement or preparation beforehand, as for the doing of something, the meeting of needs, the supplying of means, etc.
What does provisions mean in the Constitution?
A constitutional provision is a specifically designated rule/law within a nation or state’s constitution. Provisions cannot be changed through court or common law, regardless of the circumstances that may arise.
What is meant by state provision?
State provision: also known as direct provision – when a nationalised industry is the main provider of a good or service. Often the case for public goods and merit goods.
What is provision and reserve?
In short, a reserve is an appropriation of profit for a specific purpose, while a provision is a charge for an estimated expense.
What does provisions mean in history?
historical usage of provision The noun sense “an appointment to an ecclesiastical office, an appointment by the pope to a see or benefice not yet vacant” dates from the late 14th century. The plural noun provisions “a supply of food” dates from the mid-16th century.
What is provision example?
Examples of provisions include accruals, asset impairments, bad debts, depreciation, doubtful debts, guarantees (product warranties), income taxes, inventory obsolescence, pension, restructuring liabilities and sales allowances. Often provision amounts need to be estimated.
What is provision and its types?
The most common type of provision in accounting is a provision for bad debt. Other types of provisions include accumulated depreciation, guarantees, warranties, income tax, accrued expenses.
What are provisions and reserves?
What do you mean by government intervention?
Government intervention. Government intervention is any action carried out by the government or public entity that affects the market economy with the direct objective of having an impact in the economy, beyond the mere regulation of contracts and provision of public goods.
What are the aims of government intervention in markets?
Governments intervene in markets to try and overcome market failure. The government may also seek to improve the distribution of resources (greater equality). The aims of government intervention in markets include.
Why do government intervention advocates defend different economic policies?
Government intervention advocates defend the use of different economic policies in order to compensate the flaws of the economic system that give way to large economic imbalances. They believe the Law of Demand and Supply is not sufficient in order to ensure economic equilibriums and government intervention should be used to assure…
Is government intervention good or bad for the economy?
As in most imperfect competition markets and especially in monopolistic ones, a firm may practice an abusive behaviour, which will translate into a loss of welfare. In such cases, government intervention will be praised both by consumers and those firms that seek for lower prices and a profitable share of the market.